Multiple Choice
The percentage of workers whose wages are set by explicit contracts falls. This should
A) make it more difficult for the labor market to reach an equilibrium after a change in the demand for labor.
B) make it easier for the labor market to reach an equilibrium after a change in the demand for labor.
C) have no impact on the movement of the labor market toward equilibrium after a change in the demand for labor.
D) cause the labor market to always be at an equilibrium, even if there is a change in the demand for labor.
Correct Answer:
Verified
Correct Answer:
Verified
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